ANI Pharmaceuticals (NASDAQ:ANIP) Issues FY 2024 Earnings Guidance

ANI Pharmaceuticals (NASDAQ:ANIP) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 4.260-4.670 for the period, compared to the consensus earnings per share estimate of 4.470. The company issued revenue guidance of $520.0 million-$542.0 million, compared to the consensus revenue estimate of $534.2 million.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial increased their price objective on ANI Pharmaceuticals from $72.00 to $80.00 and gave the stock a buy rating in a research report on Friday, March 1st. Capital One Financial assumed coverage on ANI Pharmaceuticals in a research report on Friday, March 15th. They issued an overweight rating and a $80.00 price target on the stock. Guggenheim boosted their price target on ANI Pharmaceuticals from $70.00 to $77.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Finally, HC Wainwright upped their target price on ANI Pharmaceuticals from $73.00 to $83.00 and gave the company a buy rating in a research note on Monday, March 4th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ANI Pharmaceuticals has an average rating of Buy and an average target price of $80.00.

ANI Pharmaceuticals Price Performance

NASDAQ:ANIP traded up $0.90 on Friday, reaching $65.48. The stock had a trading volume of 200,700 shares, compared to its average volume of 139,568. The company has a market capitalization of $1.38 billion, a P/E ratio of 77.06 and a beta of 0.79. ANI Pharmaceuticals has a 1-year low of $36.99 and a 1-year high of $70.81. The company has a quick ratio of 2.81, a current ratio of 3.57 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average price of $64.77 and a 200-day moving average price of $58.57.

ANI Pharmaceuticals (NASDAQ:ANIP) last posted its quarterly earnings results on Thursday, February 29th. The specialty pharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.20. ANI Pharmaceuticals had a net margin of 3.86% and a return on equity of 18.06%. The business had revenue of $131.65 million during the quarter, compared to the consensus estimate of $123.02 million. Research analysts forecast that ANI Pharmaceuticals will post 3.55 EPS for the current year.

Insider Activity

In other ANI Pharmaceuticals news, CEO Nikhil Lalwani sold 28,965 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $65.52, for a total value of $1,897,786.80. Following the transaction, the chief executive officer now directly owns 444,981 shares of the company’s stock, valued at approximately $29,155,155.12. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Nikhil Lalwani sold 28,965 shares of ANI Pharmaceuticals stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $65.52, for a total value of $1,897,786.80. Following the completion of the transaction, the chief executive officer now directly owns 444,981 shares of the company’s stock, valued at approximately $29,155,155.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Muthusamy Shanmugam sold 5,692 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $55.95, for a total value of $318,467.40. Following the completion of the sale, the chief operating officer now directly owns 897,620 shares of the company’s stock, valued at $50,221,839. The disclosure for this sale can be found here. Insiders have sold 145,686 shares of company stock valued at $9,586,490 over the last ninety days. 12.70% of the stock is currently owned by company insiders.

Institutional Trading of ANI Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its holdings in ANI Pharmaceuticals by 5.4% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 3,881 shares of the specialty pharmaceutical company’s stock worth $209,000 after acquiring an additional 200 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in ANI Pharmaceuticals by 4.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,435 shares of the specialty pharmaceutical company’s stock worth $316,000 after buying an additional 225 shares during the period. Point72 Asset Management L.P. boosted its holdings in ANI Pharmaceuticals by 60.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 776 shares of the specialty pharmaceutical company’s stock worth $42,000 after buying an additional 291 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ANI Pharmaceuticals by 1.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 35,039 shares of the specialty pharmaceutical company’s stock worth $1,392,000 after purchasing an additional 384 shares in the last quarter. Finally, American International Group Inc. lifted its stake in ANI Pharmaceuticals by 7.2% in the 2nd quarter. American International Group Inc. now owns 6,866 shares of the specialty pharmaceutical company’s stock worth $204,000 after purchasing an additional 461 shares in the last quarter. 76.05% of the stock is currently owned by hedge funds and other institutional investors.

ANI Pharmaceuticals Company Profile

ANI Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets branded and generic prescription pharmaceuticals in the United States and Canada. The company manufactures oral solid dose products; semi-solids, liquids, and topicals; controlled substances; and potent products, as well as performs contract development and manufacturing of pharmaceutical products.